Notes:Money market securities are debt issues with maturities of one year or less. Treasury Bills, Certificate of Deposit as well as Commercial papers are money market instruments.

4. Bank Rate is defined as the rate at which:

[A] RBI lends short term loans to commercial banks[B] a commercial bank can lend to its customers[C] RBI lends long term loans to commercial banks [D] the commercial banks are able to borrow overnight funds from RBI

Notes:First statement is incorrect because mixed economy is characterized by a system where government directs economic activity in some socially important areas of the economy, the rest being left to the price mechanism to operate. Second statement is correct.

6. Consider the following statements about the Commission for Agricultural Costs & Prices (CACP):

It is mandated to recommend minimum support prices (MSPs)

Union Agriculture Minister is the ex-officio chairperson of the commission

Notes:First statement is correct. Second statement is incorrect. The Commission for Agricultural Costs & Prices (CACP) is an attached office of the Ministry of Agriculture and Farmers Welfare, Government of India. It came into existence in January 1965. Currently, the Commission comprises a Chairman, Member Secretary, one Member (Official) and two Members (Non-Official). It is mandated to recommend minimum support prices (MSPs)

7. India is the biggest producer, as well as the largest consumer and importer of which of the following crops?

Notes:India is the biggest producer, as well as the largest consumer and importer of pulses, but productivity is low. However, for 2016-17, there is a massive rebound in pulse production while Rabi pulses suggests harvest of 134 lakh tons (108 lakh tons), Kharif output is estimated at 87 lakhs tons (previous year 55 lakh tons) taking the annual total to a humungous 221 lakh tons (164 lakh tons)

8. Consider the following statements about Natural rubber (NR) production in India:

Rubber plantation in India is confined to the states of Kerala and Tamil Nadu

Notes:First statement is incorrect because Rubber plantation in India is carried out in Karnataka, Kerala, Tamil Nadu and the Andaman and Nicobar Islands. Second statement is again incorrect because Thailand is the largest producer of natural rubber in the world.